WEDNESDAY, 1.00PM OIL company Engen will spend more than $60-million in expansion into sub-Saharan Africa within the next few years. John Slee, Engen’s managing director for Kenya, says the company will soon shift its focus to fuels, from lubricants, petrochemicals and bitumen, with the bulk of the investment going into marketing and brand diversification. “We […]

WEDNESDAY, 4.30PM The armed wing of the banned Islamic Salvation Front on Wednesday announced a ceasefire in Algeria effective as of Wednesday next week. The statement from the Islamic Salvation Army, dated September 21, was signed by its national leader Madani Mezerag. The ceasefire call comes two days after up to 200 people were slaughtered […]

TUESDAY, 12.30PM BRITISH-based National Westminster Bank is reviewing its joint venture operation in South Africa with the Board of Executors. The review is part of the bank’s restructuring of its global securities operations, moving the most profitable treasury and foreign exchange operations into a separate arm, Global Financial Markets. Press reports indicate that BoE Natwest […]

MONDAY, 10.30AM The market value of New Africa Investments Limited (Nail) more than doubled to R3,4-billion on Monday, in its first share rights offer. Chairman Ntatho Motlana said Nail’s capital raising made corporate history: “We don’t believe any company has more than doubled its market capitalisation with its first rights offer,” he said. Nail issued […]

WINNIE MUST APPEAR TRUTH commission spokesman John Allen said on Monday that Winnie Madikizela-Mandela will have to appear in person before the commission on Thursday, even if she wishes to apply for a postponement of her in camera hearing. Madikizela-Mandela’s lawyers said at the weekend they will apply for a postponement of the inquiry because […]

TUESDAY, 12.00NOON: GAUTENG Lions utility back Hennie le Roux will be in the team to play Northern Free State in a Bankfin Currie Cup match in Welkom on Friday night. Le Roux last played for the Lions against Mpumalanga Pumas on July 13, when he left the field with a thigh injury. Le Roux is […]

TUESDAY, 9.30AM SOUTH AFRICA’S first private ‘virtual network’ was launched on Monday, a R50-million venture offering electronic commerce and financial services at lower costs, thanks to shared infrastructure and costs. The driving force is Dimension Data, which has linked up with Nedcor, Wooltru (which owns department store chains such as Woolworths, Dions and Makro) and […]

TUESDAY, 12.00NOON: MOROKA SWALLOWS will be out to collect maximum points when they meet Jomo Cosmos in a Premier Soccer League match at Orlando Stadium on Wednesday afternoon. Fresh from a 3-0 defeat by Bush Bucks, Swallows coach Sheperd Murape has vowed to beat Cosmos. He said they lost to Bucks because they missed two […]

TUESDAY, 4.00PM The trial of former Zimbabwean president Canaan Banana on charges of sodomy and indecent assault was adjourned on Tuesday while the judge considers a defence application for the case to be thrown out of court. Banana faces trial on 11 counts of sodomy, attempted sodomy and indecent assault involving seven aides, a cook, […]

TUESDAY, 12.30PM FOREST products group Sappi is to put its proposed rights issue on hold until the share price has improved, says the company. The group’s R6,1-billion acquisition of Europe’s KNP Leykam had ”confused” the market, according to Sappi chairman Eugene van As. The market has chopped 11% off Sappi’s share price to R38,15 since […]